Missouri narrowly passes amendment to legalize sports betting

Field Level Media|published: Wed 6th November, 20:57 2024

Photo illustration of the Draft Kings app on an iPhone. News Online Sports Betting Project

Missouri will be the 39th state to legalize sports betting in the United States with the latest results from the 2024 general election.

With all precincts reporting, Amendment 2 passed by a slim margin of 4,366 votes out of the more than 2.9 million cast in the election. It will become law by Dec. 5.

The Missouri Gaming Commission has until Dec. 1, 2025 to make sports betting available to those 21 years of age or older in the state. The commission will also regulate licenses for sports wagering in the state.

The amendment legalizes online and in-person sports betting licenses for state casinos and sports teams. All six major sports teams in Missouri can create betting locations in a district near their stadiums. Missouri's casino companies can also open retail sportsbook locations at their casinos as well as online platforms.

Amendment 2 includes a 10 percent wagering tax on revenues generated by sports betting. After expenses and required funding for the Compulsive Gambling Prevention Fund, the rest of the tax revenue will be allocated for education.

The ballot measure estimates up to $28.9 million in wagering tax revenue will be generated annually, depending on deductions for promotional offers and federal taxes.

--Field Level Media